Dollar rate, exchange rate and other business news across Africa

The year-on-year inflation for the month of October 2023 fell to 35.2% from the 38.1% recorded in September 2023. Data from the Ghana Statistical Service (GSS) showed that the decrease in the general inflation rate can be attributed to the marginal drop in food inflation. Food inflation in the period was 44.8%, while non-food inflation was 27.7%. In addition, inflation for locally produced item was 34.4% while imported items stood at 34.4% from 37.4% in last month. Four divisions record inflation rates higher than the national average (35.2%). This was led Alcoholic Beverage, Tobacco and Narcotics (45.7%); Personal Care, Social Protection and Miscellaneous Goods and Services (45.0%); Food and Non-Alcoholic Beverages (44.8%) and Furnishings, Household Equipment and Routine Household (40.9%).

🚩The Ghana Stock Exchange (GSE) with a composite index of 30.75% year-to-date returns on equities, has emerged as the third-best-performing stock exchange in Africa. The recorded 30.75% year-to-date return is a significant improvement from the -12.38% year-to-date return recorded at end-2022 by the local bourse. The bourse’s Financial Stock Index (FSI) however, has a negative year-to-date return of 0.51%. The first and second-best-performing stock exchanges are the Botswana and BRVM stock exchanges. Speaking at the Ghana Stock Exchange’s (GSE) annual ‘Ring the Bell’ programme to mark the local bourse’s 33rd Anniversary Celebration themed, “Resilience and Adaptability: Thriving in Challenging Times”, on Tuesday, November 14, 2023, Managing Director of the GSE, Abena Amoah, noted that the GSE in its 33-year existence, has chalked some successes which include the establishment of 3 markets (the Main Market, GAX and GFIM) with 45 Issuers and 240 listed securities valued at GHS 356 billion.

🚩The State of Inclusive Instant Payment Systems in Africa (SIIPS) 2023 report, highlighted sustained growth in both the supply of instant payment systems and demand for their functionality. According to the report jointly produced by AfricaNenda, an African-led organisation dedicated to accelerating the growth of inclusive payment systems with the United Nations Economic Commission for Africa (UNECA) and the World Bank, the volume of payments and the total value of payments processed have both experienced significant growth since 2018, increasing by 47 percent and 39 percent, respectively. The report, launched in Addis Ababa, Ethiopia, also reveals that instant payment systems in Africa facilitated nearly 32 billion transactions valued at approximately $1.2 trillion in 2022. Instant payment systems (IPS) are payment methods that are open to many users, operate digitally, and allow for quick, near-instant transactions around the clock, every day of the year, or as close to that as possible.

INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 11.5312 Sell 11.5428
GB£GH¢ Buy 14.3645 Sell 14.3800
CHFGH¢ Buy 12.9293 Sell 12.9421
AUD$GH¢ Buy 7.4695 Sell 7.4790
CAD$GH¢ Buy 8.3949 Sell 8.4030
JP¥GH¢ Buy 0.0765 Sell 0.0766
NZDGH¢ Buy 6.8834 Sell 6.8923
ZARGH¢ Buy 0.6279 Sell 0.6285
EU€GH¢ Buy 12.4952 Sell 12.5076
CHN¥GH¢ Buy 1.5903 Sell 1.5907
GH¢CFA Buy 52.4447 Sell 52.4967
GH¢NG₦ Buy 78.4849 Sell 78.5716

CRYPTOCURRENCY MARKET
Bitcoin $35,487.57 🔻2.56%
Ethereum $1,981.87 🔻3.59%
Binance Coin $245.58 🔻1.07%
Ripple $0.6306 🔻4.83%
Solana $57.49 🔻5.81%
Cardano $0.3593 🔻0.15%
Dogecoin $0.07306 🔻2.49%

💵Bloomberg USDGHS Cross Rate – *11.9419* (YTD -🔺️14.59%)

💰STANBIC BANKFOREX RATES💵
US$GH¢ Buy 11.6000 Sell 11.9975
GB£GH¢ Buy 14.2286 Sell 14.7965
EU€GH¢ Buy 12.3818 Sell 12.8829
CH¥GH¢ Buy 1.5860 Sell 1.6539

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
No gainers for today

🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
No losers for today

〽Inflation rate in Ghana ➡️35.20%

🏦Ghana Reference Rate ➡️ 32.00%

✳Policy Rate in Ghana ➡️ 30.00%

¶ TREASURY RATES💸
91 – Day Discount Rate 27.7702% Interest Rate 29.8420%
182 – Day Discount Rate 27.4935% Interest Rate 31.8753%
364 – Day Discount Rate 25.0638% Interest Rate 33.4469%

🛢Petroleum Products – Average Price
🏗Petrol – Gh¢12.99/ltr (YTD 🔺️+4.76%)
🛢Diesel – Gh¢13.50/ltr (YTD 🔼-7.53%)
⛽LPG – Gh¢12.90/kg (YTD-🔺️+40.22%)

🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 34,827.70 +489.83 +1.43%
*S&P 500 🏦 4,495.70 +84.15 +1.91%
*Nasdaq Index📲💻 14,094.38 +326.64 +2.37%
* NYSE Composite Index 15,732.67 +329.53 +2.14%
*London FTSE 7,440.47 +14.64 +0.20%
*Germany DAX 15,614.43 +269.43 +1.76%
*Japan NIKKEI 225 32,695.93 +110.82 +0.34%
*Tokyo TOPIX Index 2,345.29 +8.67 +0.37%
*Hong Kong HANG SENG 17,396.86 -29.35 -0.17%
*Shanghai Shenzhen 300 3,582.06 +2.65 +0.07%
*S&P/ASX 200 Index 7,006.71 +57.87 +0.83%
*Bloomsberg EU 500 290.90 +3.75 +1.31%
*France CAC All-Tradable 5,337.35 +79.40 +1.51%
*Dubai DFM General Index 3,973.21 -9.72 -0.24%
*MOEX Russia Index 3,212.39 -35.88 -1.10%
*FTSE/JSE South Africa 67,317.50 +1,663.84 +2.53%
*Nairobi SE 20 Share 1,445.24 +25.10 +1.77%
*Nigeria SE Main 70,876.38 +231.53 +0.33%
*BBG EMEA World Index 202.77 +4.70 +2.37%
*GSE Composite Index 3,195.79 0.00 0.00%
*GSE Financial Index 2,042.09 0.00 0.00%

GSE INDEXES ⏸ 2023 YTD RETURNS%
*GSE Composite Index 3,195.79 🔼+30.77%
*GSE Financial Index 2,042.09 🔻-0.51%

🔼GSE 2023 GAINERS ➖ PRICE ➖ YTD%
BOPP ➡️Gh¢19.93 🔼+160.52%
TOTAL➡️Gh¢ 9.00 🔼+125.00%
UNIL ➡️Gh¢8.10 🔼+108.76%
GGBL ➡️Gh¢3.40 🔼+65.85%
MTNGH ➡️Gh¢1.40 🔼+59.09%

🔻GSE 2023 LOSERS ➖ PRICE ➖ YTD%
EGL ➡️Gh¢2.41 🔻-24.69%
SIC ➡️Gh¢0.24 🔻-22.58%
CAL ➡️Gh¢0.51 🔻-21.54%
ACCESS ➡️Gh¢3.40 🔻-15.21%
GOIL ➡️Gh¢1.50 🔻-12.79%

COMMODITIES MARKET
*Brent Crude USD/barrel⛽82.67 +0.20 +0.24%
*Natural Gas 🏭 USD/millon BTUS 3.08 -0.02 -0.77%
*Gold 👑 USD/troy ounce 1,971.10 +4.60 +0.23%
*Silver 💍 USD/troy ounce 23.26 +0.13 +0.55%
*Corn 🌽 USd/bushel 476.75 -1.50 -0.31%
*Cocoa 🍫 USD/metric ton 3,984.00 -80.00 -1.97%
*Coffee ☕ USd/pound 171.40 -1.80 -1.04%
*Sugar🎂 USd/pound 27.18 -0.53 -1.91%
Rubber USd/100kg 150.20 +1.00 +0.67%

Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Ghana News Agency, Norvan Reports.